From: Judie Stone [gusty7@optonline.net]
Sent: Sunday, December 21, 2003 2:07 PM
To: rule-comments@sec.gov
Subject: SEC Board of Directory
To Whom It May Concern:
Given that the SEC is still accepting comments on a proposal that would
improve the ability of minority shareholders to nominate candidates to
the board of directors, I would like to express my support for such
action, in what I view a very necessary first step toward shareholder
democracy.
We must make sure that the public at large, shareholders all in some way
or another, regain faith back in the system by changing the current rules
under which management exerts almost total control over who serves on the
board of directors. As a result directors tend to be very pro-management,
rarely asking tough questions about questionable business practices or
excessive executive compensation. Indeed, many of the recent scandals can
be blamed in part on insider boards. Shareholder democracy is a critical
first step to fixing the problem.
One of the best ways to ensure that boards are independent of management
is to give shareholders more say in who gets to serve on the board of
directors. I, and others I know, support giving shareholders increased
ability to nominate candidates for the board of directors.
Sincerely,
Judith M. Stone